British Pound Depreciates After Fresh Restrictions

Wednesday’s worst performer was the British pound which fell to an annual low after U.K. Prime Minister Boris Johnson tightened pandemic rules. Traders were able to profit with our short entry at 1.3230. If GBP/USD is unable to stabilize above 1.3250, we expect at least a test of 1.3150. Falling below 1.3140 will shift the focus to the lower crucial 1.30-mark.

Traders should brace for heightened volatility in the next days as we have tomorrow’s U.S. consumer inflation numbers on tab followed by a crucial Federal Reserve meeting next week.

The EUR/USD recovered some of its recent losses after the 1.1230-zone proved to hold as a support. The pair now faces a crucial resistance area between 1.1370 and 1.1430 that could attract sellers.


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